China Projects 2015 Budget Deficit of 1.62 Trillion Yuan

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

China Lowers Growth Target to About 7%

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Mark Magnier BEIJING--China lowered its economic growth forecast to about 7% this year at the opening of the country's biggest political event of the year, ushering in what leaders have dubbed a "new normal" of slower growth in the ...

Brazil Central Bank Raises Benchmark Selic Rate

TODAY: March 5, 2015 PUB DATE: March 5, 2015

SÃO PAULO--Brazil's central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political turmoil. The statement announcing the increase, which ...

Australia Report Backs Case for Tough Budget Measures

TODAY: March 5, 2015 PUB DATE: March 5, 2015

CANBERRA, Australia--Australia's conservative government has begun a fight to repair its tarnished popularity and win public backing for unpopular budget reform, warning voters on Thursday that without change the slowing economy was no longer able to support generous social spending. ...

RBA's Lowe Says Global Easings Affecting Local Rates

TODAY: March 5, 2015 PUB DATE: March 5, 2015

SYDNEY--Aggressive monetary easings and currency devaluations by the world's central banks are having a big impact on the setting of interest rates in Australia, while keeping the local currency artificially high, the country's central bank said. "The scale of global ...

China Plans to Lift Price Controls on Drugs

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China plans to lift price controls for the pharmaceutical market, it said in a work report on Thursday. The report released on the eve of China's annual gathering of lawmakers, the National People's Congress, didn't disclose details or a timeline. ...

China Premier: To Cut Energy Intensity by More Than 3.1% in 2015

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Chuin-Wei Yap and Rose Yu BEIJING--China set a goal of reducing its energy intensity by more than 3.1% for 2015, Premier Li Keqiang said in a report to the annual legislative National People's Congress on Thursday. China exceeded its ...

China Projects 2015 Budget Deficit of $258.5 Billion

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China projects a 2015 budget deficit of 1.62 trillion yuan ($258.5 billion), or about 2.3% of gross domestic product, the finance ministry said Thursday. The budget deficit is 270 billion yuan more than the budget deficit of last year, the ...

CITIC, KKR Make Formal Offer to Buy Shares of United Envirotech

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By P.R. Venkat SINGAPORE--A unit of state-owned Chinese firm Citic Ltd. and U.S. private-equity firm KKR & Co. Thursday made a formal offer to buy a Singapore wastewater-treatment company in a deal valuing the company at 1.9 billion Singapore dollars ...

AbbVie to Buy Pharmacyclics in $21 Billion Deal

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Jonathan D. Rockoff And Peter Loftus AbbVie Inc. said late Wednesday it will buy cancer biotech Pharmacyclics Inc. in a $21 billion deal that returns the Chicago drug company to deal-making after backing away from a big tax-lowering takeover ...

China Growth Forecast at About 7% This Year

TODAY: March 5, 2015 PUB DATE: March 5, 2015

BEIJING--China's government aims to deliver slower economic growth of about 7% this year, down from an actual expansion of 7.4% last year, Premier Li Keqiang said in a closely watched report to be delivered to the nation's legislature on Thursday. ...

BOJ's Kiuchi Questions Sustainability of Bond Purchases

TODAY: March 5, 2015 PUB DATE: March 5, 2015

MAEBASHI, Japan--A Bank of Japan board member on Thursday rejected the central bank's inflation projections as being too optimistic and questioned the effects and sustainability of its aggressive stimulus measures, in a direct challenge to Gov. Haruhiko Kuroda. Seen as ...

AbbVie to Buy Pharmacyclics in $21 Billion Deal -- 2nd Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Jonathan D. Rockoff and Peter Loftus AbbVie Inc. said late Wednesday it will buy cancer biotech Pharmacyclics Inc. in a $21 billion deal that returns the North Chicago, Ill., drug company to deal-making after backing away from a big ...

China Lowers Growth Target to About 7%--Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Mark Magnier BEIJING--China lowered its economic growth forecast to about 7% for 2015 at the opening of the country's biggest political event of the year, ushering in what leaders have dubbed a "new normal" of slower growth in the ...

Brazil Central Bank Raises Benchmark Selic Rate to 12.75% -- Update

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Jeffrey T. Lewis And Paulo Trevisani SÃO PAULO--Brazil's central bank raised its benchmark interest rate to 12.75% Wednesday, the highest level since 2009, as it struggles to get price increases under control amid sluggish economic growth and deepening political ...

Australia Report Backs Case for Tough Budget Measures

TODAY: March 5, 2015 PUB DATE: March 5, 2015

By Rob Taylor CANBERRA, Australia--Australia's conservative government has begun a fight to repair its tarnished popularity and win public backing for unpopular budget reform, warning voters on Thursday that without change the slowing economy was no longer able to support ...